CBSC, Continuity Control, And Young & Associates Partner To Modernize Regulatory Compliance For Illinois Community Banks
SPRINGFIELD, Ill., Feb. 5, 2013 /PRNewswire/ -- Community BancService Corporation, Inc. (CBSC), a subsidiary of the Community Bankers Association of Illinois (CBAI), today announced its partnership with and "preferred provider" endorsement of Continuity Control, the only complete compliance platform for community banking. Together with CBAI's long-term partner Young & Associates, Inc., a compliance consultant to community financial institutions, the three organizations have created a reference model for community banks, fundamentally changing the economics of compliance.
"Community banks have been challenged by burdensome regulations for years, and the compliance requirements have markedly increased as a result of the financial crisis that has plagued our profession since 2008. This new partnership, along with the Community Bankers for Compliance (CBC) and CBC Plus programs will give community banks a complete and efficient way to deal with the rigors of regulatory compliance. This multifaceted approach will provide tremendous compliance support for community banks for many years to come," said Bob Wingert, CBAI President.
Mike Kelley, CBSC President, noted, "Continuity Control has created a new compliance system that addresses today's volatile regulatory environment. It's not just a Dodd Frank solution, but a program designed to sustainably weather the compliance burden today and into the future. Community bankers can insulate themselves from the cost of regulatory change and thrive by adopting this new regulatory compliance standard."Young & Associates, Inc., a CBAI education partner for 28 years, provides a highly efficient and cost-effective way to help community banks perform audits through its alliance with Continuity Control. In addition to the tremendous amount of time saved by bank staff, Young will be able to perform many client audits remotely, instead of physical visits, thereby saving time and travel expenses, with the savings being passed along to client banks.
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